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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: Cola Can who wrote (298)	9/23/1999 8:27:00 PM
From: Casaubon	Respond to of 967

for candle lovers, check out the perfect falling three methods, the last six hours on IMFX. The sixth hour is the culmination of the bearish setup, of the prior five hours! iqc.com The daily pattern of this stock shows a bear flag formation, which ended with two consecutive hanging man candles at $9.00, which happens to also be long term horizontal resistance. iqc.com The weekly pattern is now a bearish engulfing candle iqc.com In conclusion, I would not be surprised to see a return to the long term support area of $7.00, which by the way, is about the limit, to the extent of the downside move, based on weekly and monthly bollinger bands. PS the candle for IFLO on the monthly timescale is a "high wave" indecision candlestick iqc.com the japanese say that a group of such candles are a reversal formation. The long upper and lower shadows represent a candlestick which "lost it's sense of direction". Something to keep in mind; especially in a very questionable timeframe, in a very questionable market. I think you will be able to get in at $3.50 if you're patient, and possibly $3.00 (JMHO). Good Luck to all!

To: Cola Can who wrote (298)	9/23/1999 10:07:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 967

So, in something like a desc, or ascend, triangle, is it safe to start thinking something else is going on, if the formation has exceeded its normal time frame of completion? Cola: Usually the longer a stock bases the better it is for an upside breakout... What it's saying is that there was an equal number of willing buyers for those wanting to sell... In the case of IFLO it kept bouncing off that 3 1/2 to 3 5/8 area until it finally broke out to the upside... Not shown in the chart was the excellent fundamental expectations... That's why using a combination of TA and FA helps put the analysis odds in your favor... Jim